Jefferies Group Weighs in on CBOE Holdings Inc.’s Q3 2016 Earnings (CBOE)
CBOE Holdings Inc. (NASDAQ:CBOE) – Investment analysts at Jefferies Group cut their Q3 2016 earnings per share estimates for CBOE Holdings in a research note issued on Tuesday. Jefferies Group analyst D. Fannon now expects that the brokerage will earn $0.57 per share for the quarter, down from their prior estimate of $0.59. Jefferies Group has a “Hold” rating and a $66.00 price objective on the stock. Jefferies Group also issued estimates for CBOE Holdings’ FY2016 earnings at $2.38 EPS.
CBOE Holdings (NASDAQ:CBOE) last issued its quarterly earnings data on Friday, July 29th. The company reported $0.60 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.60. The company had revenue of $163.30 million for the quarter, compared to analyst estimates of $159.22 million. CBOE Holdings had a net margin of 32.55% and a return on equity of 81.50%. The company’s revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.54 earnings per share.
A number of other analysts have also commented on the stock. Evercore ISI upgraded shares of CBOE Holdings from a “hold” rating to a “buy” rating in a research note on Tuesday. Deutsche Bank AG boosted their price target on shares of CBOE Holdings from $68.00 to $70.00 and gave the company a “hold” rating in a research note on Wednesday, October 5th. Wells Fargo & Co. upgraded shares of CBOE Holdings from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $67.50 to $80.50 in a research note on Tuesday, October 4th. Goldman Sachs Group Inc. restated a “sell” rating and set a $61.00 price target on shares of CBOE Holdings in a research note on Tuesday, September 27th. Finally, Credit Agricole SA restated an “underperform” rating and set a $68.00 price target on shares of CBOE Holdings in a research note on Tuesday, September 27th. Five investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company’s stock. CBOE Holdings currently has a consensus rating of “Hold” and an average target price of $66.87.
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Shares of CBOE Holdings (NASDAQ:CBOE) traded down 0.22% during trading on Wednesday, hitting $66.95. 258,254 shares of the stock traded hands. CBOE Holdings has a 1-year low of $58.43 and a 1-year high of $72.53. The stock has a market cap of $5.44 billion, a price-to-earnings ratio of 25.32 and a beta of 0.55. The stock has a 50 day moving average price of $68.08 and a 200-day moving average price of $66.15.
Several large investors have recently made changes to their positions in the stock. Renaissance Technologies LLC boosted its stake in shares of CBOE Holdings by 0.8% in the first quarter. Renaissance Technologies LLC now owns 4,436,700 shares of the company’s stock valued at $289,850,000 after buying an additional 37,000 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of CBOE Holdings by 3.6% in the first quarter. Geode Capital Management LLC now owns 585,063 shares of the company’s stock valued at $38,222,000 after buying an additional 20,152 shares in the last quarter. Loomis Sayles & Co. L P boosted its stake in shares of CBOE Holdings by 0.7% in the first quarter. Loomis Sayles & Co. L P now owns 34,245 shares of the company’s stock valued at $2,237,000 after buying an additional 226 shares in the last quarter. UBS Group AG boosted its stake in shares of CBOE Holdings by 154.4% in the first quarter. UBS Group AG now owns 228,893 shares of the company’s stock valued at $14,954,000 after buying an additional 138,933 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its stake in shares of CBOE Holdings by 76.5% in the first quarter. Lazard Asset Management LLC now owns 1,859,260 shares of the company’s stock valued at $121,464,000 after buying an additional 806,144 shares in the last quarter. Hedge funds and other institutional investors own 73.76% of the company’s stock.
In other news, CEO Edward T. Tilly sold 6,250 shares of the company’s stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $67.86, for a total transaction of $424,125.00. Following the sale, the chief executive officer now directly owns 73,611 shares in the company, valued at $4,995,242.46. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.96% of the company’s stock.
The business also recently declared a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Friday, September 2nd were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.37%. The ex-dividend date of this dividend was Wednesday, August 31st. CBOE Holdings’s dividend payout ratio is presently 37.88%.
CBOE Holdings Company Profile
CBOE Holdings, Inc is a holding company. The Company’s principal business is operating markets that offer for trading options on various market indexes (index options), on an exclusive basis and futures contracts, as well as on non-exclusive multiply listed options, such as options on the stocks of individual corporations (equity options), and options on other exchange-traded products (ETP options), such as exchange-traded funds (ETF options) and exchange-traded notes (ETN options).
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